Role in brief
Figure is seeking a mid-level Lending Quality Assurance Analyst to review lending products like HELOCs and DSCR loans. This role involves performing QA reviews, analyzing data for defect trends, and recommending improvements to underwriting processes. Candidates with experience in quality assurance or lending operations, strong analytical skills, and an understanding of mortgage industry regulations should consider applying.
About the role
This role focuses on ensuring the quality and compliance of Figure's lending products, such as Home Equity Lines of Credit (HELOCs) and Debt Service Coverage Ratio (DSCR) loans. The analyst will conduct thorough Quality Assurance reviews, examining loan files for data integrity, underwriting accuracy, and adherence to federal, state, and local regulations. A key part of the job involves identifying defects in the loan production process and performing credit analysis to ensure all loans meet agency and investor eligibility requirements.
The position also involves significant data analysis and reporting. The analyst will contribute to monthly QA/QC reports, analyze defect trends using specialized software, and use these insights to recommend enhancements to underwriting and change-management processes. This includes staying informed about industry and investor product changes to ensure Figure's practices remain current and compliant.
Success in this role means consistently identifying and addressing issues in the lending process, contributing to improved loan quality, and helping to streamline operations. The analyst will work closely with the Lending Operations team to address trending defects and implement remediation strategies, playing a direct part in maintaining the integrity and efficiency of Figure's loan origination and funding systems.
The base salary for this position ranges from $72,160 to $108,240 annually, with an additional 25% annual bonus target and company equity.
Skills that matter here
- Quality Assurance: This role primarily involves performing QA reviews on lending products and contributing to QA/QC reporting.
- Data Analysis: The analyst will assist with data analysis for defect trending and reporting within QA/QC software.
- Underwriting: The position requires underwriting Figure loan files for various financial aspects and performing credit analysis.
- Microsoft Office: Proficiency in Microsoft Office products, especially Excel, is required for daily tasks and reporting.
- Excel: Strong Excel skills are specifically mentioned as necessary for this role.
Who this role suits
- Someone with at least five years of experience in quality assurance, post-closing, or lending operations.
- An individual who is highly organized, detail-oriented, and diligent, capable of managing multiple projects simultaneously.
- A professional who can articulate complex plans, processes, and issues clearly, both verbally and in writing.
- A candidate who thrives in a fast-paced environment and can work effectively across different teams.
From the employer
What You’ll Do
- Perform Quality Assurance reviews on Figure’s lending products, such as HELOCs and DSCR loans
- Assist with monthly QA/QC reporting, data analysis, and defect trending within QA/QC software and tools
- Recommend underwriting and change-management enhancements based on QA audit results and industry/investor product changes
- Underwrite Figure loan files for income calculations, assets, red flags, credit, and collateral.
- Review file data integrity and identify defects in the loan production process
- Perform credit analysis, ensuring all loans meet agency and investor eligibility
- Review pre-closing loan documents to ensure compliance with all Federal, State, and local compliance requirements and regulations
- Work closely with Lending Operations on trending defects and remediation
What We Look For:
- 5+ years of quality assurance, post-closing, lending operations, or related experience
- Underwriting experience is a plus
- Bachelor’s Degree
- Ability to handle several projects at once while staying organized, detail-oriented, and diligent
- Ability to work effectively across functions to achieve common goals
- Strong communication skills - ability to articulate verbally and in writing, plans, processes, policies, and issues to stakeholders
- Ability to thrive in a fast-paced startup environment
- Experience navigating and applying Fannie Mae conforming, and investor and aggregator and non-conforming underwriting guidelines
- Competency in, and understanding of investor, rating agency, and third-party review requirements
- Knowledge regarding federal and multi-state regulations impacting the mortgage industry a plus
- Strong analytical skills, attention to detail, and time management
- Ability to handle multiple assignments in a high-production, timeline-sensitive environment with minimal supervision
- Excellent verbal and written communication
- Proficient in Microsoft Office products, especially Excel, as well as QA testing software
Salary
- Base Compensation Range: $72,160 - $108,240/yr
- 25% annual bonus target, paid quarterly
- Company equity in the form of RSUs
Benefits
- Comprehensive medical, dental, and vision coverage, with 100% employer-paid premiums for employees and their dependents on select plans
- Company HSA, FSA, Dependent Care FSA, 401(k), and commuter benefits
- Employer-paid life and disability insurance
- 11 observed holidays and PTO plan
- Up to 12 weeks of paid family leave
- Continuing education reimbursement
Questions about this role
What is the remote work policy for this role?
This is a fully remote position.
What level of seniority is expected for this position?
This is a middle-seniority role, typically requiring 5+ years of relevant experience.
What specific skills are required for this role?
Candidates should have experience in Quality Assurance, Data Analysis, and Underwriting, along with proficiency in Microsoft Office, particularly Excel.
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